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Business & farm
You need professional tax guidance.
First, a C corporation does not have partners, it is owned by shareholders.
Second, a C corporation is not some sort of pass-through entity, such as an S corporation or partnership; it is a separate taxable entity for federal income tax purposes. As such, and finally, a C corporation must file its own federal income tax return, typically on Form 1120.
Please seek professional guidance for tax and legal issues related to your business.
May 19, 2020
6:22 PM
2,159 Views